May 17, 2019
Planning for retirement is a daunting task. Before you retire,
you need a game plan, but with so many moving parts, it's tough to
know where to begin. To help you out, we've developed eight
essential questions you need to answer before you retire. If you've
already retired, they're even more critical.
What You'll Learn:
– How Are You Going To Generate Income?
- How Are You Going To Pay For Healthcare?
- 70 percent of people who live to age 65 will require some type
of long-term care.
- The average cost of long-term care in the U.S. is hovering
- How Can You Pay Fewer Taxes In
- Once you retire, you have more control over the taxes you pay.
This is one of the overlooked areas of investing, and consulting
with an advisor is critical.
- Remember, taxes are currently at historic lows. We can only
assume they'll rise in the future.
- How To Get The Most Out Of Your Social Security
- The average benefit is about $400,000. That's a significant
- How and when you claim your benefit impacts how much you'll
receive. It also affects your tax liability.
- Consider your spouse's benefits as well.
- What's Your Risk Tolerance, And How Well Does Your
Portfolio Reflect That?
- Many people are taking too much risk.
- Asset allocation and diversification are key components of a
- How To Stay One Step Ahead Of Inflation?
- One percent to three percent may not seem like much, but if you
add it up over 20 or 30 years, you may need double or triple your
savings and income. Ignoring inflation could mean the difference
between enjoying your dreams and barely getting by.
- How Are You Going To Minimize Investment Fees And
- People often have no idea what their investment fees are or
what amount they're actually paying. It's important to understand
and minimize the fees and get value for what you do pay for.
- What Is The Most Cost Efficient Way To Leave A
- You need to consider whether you'd like to leave a legacy at
all. If so, who will be inheriting your wealth?
- It's important to know how to pass on wealth in a tax efficient
- Tax efficient legacy planning protects your wealth from
creditors, future marriages, and other issues that might
“Before you retire, you need to consider how your wealth will
work for you in retirement. Without a plan, inflation, taxes,
healthcare costs, and market volatility could all eat into your
– Money Wisdom
ScheduleYour Money Map Review: http://retire.johnsonbrunetti.com/contactjohnsonbrunetti
For further exploration of this topic and additional resources,
check out our blog here: https://johnsonbrunetti.com/8-crucial-questions-to-answer-before-you-retire/